Yesterday’s bearish EURUSD print is already questioned today, but over 1.3245 is needed to lift the (correctional) sight to the 1.34s… USDJPY is lower with lower US yields and may continue towards the Oct’11 75.30 low if/when US yields continue lower… AUDUSD keeps grinding higher despite the stretch – next key ref at an earlier 1.0753 peak, but watch out for setbacks… EURSEK added a notably bearish print yesterday and below ~8.84 would open up for more SEK strength… EURNOK was sold lower in some volume yesterday, but last Tue’s bullish benchmark print remains a key feature pointing higher (if /when breaking above 7.6860)… Portuguese yields are higher. Allow for a few days of consolidation before extending the hostile trend – to and above the 20% marker (for the 10yr tenor)… EURPLN added an early bullish print and so did USDZAR but more is needed to get really excited about it… The Shanghai Composite index shows that there are sellers at important resistance zone, so watch the downside closely going forward… US & German yields may take a short pause before extending moves lower… Brent crude is going nowhere…
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SEB tech team